Quadrise Adjusts Utah Project Schedule as Valkor Funding Process Continues (QED)

Utah Pilot Project Advances Toward Commissioning

Quadrise Plc (LSE:QED) has provided an update on its collaboration with Valkor Technologies in Utah, reporting continued progress on preparations for the companies’ upstream production project.

Quadrise said its equipment is ready for deployment, while representative heavy sweet crude oil samples have been produced at Valkor’s new pilot facility for use in MSAR and bioMSAR formulation and testing activities.

The update marks another step forward in the development programme, which is intended to demonstrate the commercial potential of Quadrise’s fuel technologies within the U.S. upstream energy market.

Pilot Plant Timeline Revised

Valkor’s 500-barrel-per-day oil sands pilot plant is now expected to enter commissioning during the fourth quarter of 2026.

As a result of the revised schedule, Quadrise has adjusted the planned delivery date for its 600-barrel-per-day Multifuel Manufacturing Unit (MMU), which is now expected to be delivered during the third quarter of 2026.

The company said the updated timeline is designed to align equipment deployment with the anticipated commissioning schedule for the pilot facility.

Outstanding Licence Fee Remains Under Review

Quadrise also provided an update regarding the licence fee associated with the Valkor project.

Of the US$1.0 million licence fee due under the agreement, US$0.95 million remains unpaid. The company noted that no additional payments have been received since late November 2025, with Valkor currently awaiting approval of project funding.

Despite the delay, the board said it expects the outstanding balance to be settled in full by 30 September 2026, reflecting continued confidence in the project’s progression and funding outlook.

Commercialisation Opportunity Balanced by Execution Risk

Management continues to view the Utah project as an important commercial opportunity for the deployment of its low-emission fuel technologies in North America.

However, the company’s outlook remains affected by weak financial metrics, including limited revenue generation, ongoing losses and increasing free cash flow consumption. Technical indicators also remain negative, with the share price trading below key moving averages and a bearish MACD reading.

These challenges are partially offset by a relatively low-debt balance sheet, defined commercialisation milestones and the prospect of near-term cash inflows from outstanding receivables. Nevertheless, execution and funding risks remain key factors for investors to monitor.

More About Quadrise

Quadrise Plc is a clean-energy technology company focused on reducing emissions in shipping and heavy industry through the development and commercialisation of alternative fuel solutions. The company’s proprietary MSAR and bioMSAR technologies are designed to provide lower-cost, lower-emission alternatives to conventional fuels for customers in the marine, power generation, industrial and refining sectors. Through its fuel emulsion technology, Quadrise aims to help customers lower greenhouse gas emissions while improving fuel efficiency and operating economics.